Pentagon Awards $99 Million for U.S. Navy Ship Upgrades, Repairs, Planning

General Dynamics, Huntington Ingalls, and BAE Systems all win work on various ships.

Mar 18, 2014 at 11:51PM

After taking Monday off, the acquisitions clerks at the Department of Defense got back to work Tuesday, awarding a total of 20 separate defense contracts worth $618.4 million combined. The bulk of these contracts concerned funding for U.S. Navy projects. Among the publicly traded companies winning such contracts:

  • General Dynamics' (NYSE:GD) National Steel and Shipbuilding Co. subsidiary was awarded a $62.6 million contract modification to perform maintenance and upgrades work on the amphibious assault ship USS Pearl Harbor (LSD 52) while it is in drydock through July 2015.
  • BAE Systems (NASDAQOTH:BAESY) (LSE:BA) was awarded a $27.4 million contract modification to perform various ship repairs and alterations to hulls, machinery, piping, and electrical systems and electronics as required through October.
  • Huntington Ingalls (NYSE:HII) was awarded an "undefinitized contract action" (essentially, an order to begin work with the price to be determined later) worth up to $8.6 million. Huntington will perform life-cycle management engineering work on the propulsion plants for Nimitz-class (CVN 68) nuclear aircraft carriers. Expected to run through at least March 2015, this contract action includes the possibility of extension (and additional funding) in the event "options" for further work are exercised. 

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

4 in 5 Americans Are Ignoring Buffett's Warning

Don't be one of them.

Jun 12, 2015 at 5:01PM

Admitting fear is difficult.

So you can imagine how shocked I was to find out Warren Buffett recently told a select number of investors about the cutting-edge technology that's keeping him awake at night.

This past May, The Motley Fool sent 8 of its best stock analysts to Omaha, Nebraska to attend the Berkshire Hathaway annual shareholder meeting. CEO Warren Buffett and Vice Chairman Charlie Munger fielded questions for nearly 6 hours.
The catch was: Attendees weren't allowed to record any of it. No audio. No video. 

Our team of analysts wrote down every single word Buffett and Munger uttered. Over 16,000 words. But only two words stood out to me as I read the detailed transcript of the event: "Real threat."

That's how Buffett responded when asked about this emerging market that is already expected to be worth more than $2 trillion in the U.S. alone. Google has already put some of its best engineers behind the technology powering this trend. 

The amazing thing is, while Buffett may be nervous, the rest of us can invest in this new industry BEFORE the old money realizes what hit them.

KPMG advises we're "on the cusp of revolutionary change" coming much "sooner than you think."

Even one legendary MIT professor had to recant his position that the technology was "beyond the capability of computer science." (He recently confessed to The Wall Street Journal that he's now a believer and amazed "how quickly this technology caught on.")

Yet according to one J.D. Power and Associates survey, only 1 in 5 Americans are even interested in this technology, much less ready to invest in it. Needless to say, you haven't missed your window of opportunity. 

Think about how many amazing technologies you've watched soar to new heights while you kick yourself thinking, "I knew about that technology before everyone was talking about it, but I just sat on my hands." 

Don't let that happen again. This time, it should be your family telling you, "I can't believe you knew about and invested in that technology so early on."

That's why I hope you take just a few minutes to access the exclusive research our team of analysts has put together on this industry and the one stock positioned to capitalize on this major shift.

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David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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